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At 31 December 20X3 Q, a limited liability company, owned a building that had cost $800,000 on 1 January 20W4.It was being depreciated at 2% per year.

On 31 December 20X3 a revaluation to $1,000,000 was recognised. At this date the building had a remaining useful life of 40 years.

What is the balance on the revaluation surplus at 31 December 20X3 and the depreciation charge in the statement of profit orloss for the year ended 31 December 20X4?

Depreciation charge for year ended Revaluation surplus as at 31

31 December 20X4 (statement of profit or loss) December 20X3 (statement of financial position)

$ $

A

25.000 200,000

B

25,000 360,000

C

20,000 200,000

D

20,000 360,000

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Chapter8Tangiblenon-currentassets

Revaluation surplus - (1,000,000 - (800,000 - (800,000 x 2% x 10))

Depreciation charge - (1,000,000/40) = $25,000 = $360,000

多做几道

Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal

use?

A

The fair presentation concept

B

The accruals concept

C

The going concern concept

D

The business entity concept

Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal

use?

A

The fair presentation concept

B

The accruals concept

C

The going concern concept

D

The business entity concept

According to the IASB's Conceptual Framework for Financial Reporting, which TWO of the following are part of faithful

representation?1 It is neutral2 It is relevant3 It is presented fairly4 It is free from material error

A

1 and 2

B

2 and 3

C

1 and 4

D

3 and4

Which of the following accounting concepts means that similar items should receive a similar accounting treatment?

A

Going concern

B

Accruals

C

Matching

D

Consistency

Listed below are some characteristics of financial information.1 Relevance2 Consistency3 Faithful representation4 Accuracy

Which of these are qualitative characteristics of financial information according to the IASB's Conceptual Framework for

Financial Reporting?

A

1 and 2 only

B

2 and 4 only

C

3 and 4 only

D

1 and 3 only

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